Friday, March 31

West Africa

Oil-extraction-in-Angola. [Photo: Financial Fortune]

Angola is also rich in other minerals like iron ores, diamonds, gold, marble and phosphate deposits. The embassy of Angola’s economic outlook indicates that from the 1950s through 1975, iron ores were explored in provinces such as Malange, Bié, Huambo, and Huíla, and average output reached 5.7 million tonnes per year between 1970 and 1974.

The most explored minerals were exported to Japan, Germany, and the United Kingdom, earning Angola US$50 million a year.

Angola’s phosphate deposits are estimated at 150 million tonnes, located in the provinces of Cabinda and Záire. These resources have so far been unexplored. In Southeastern Angola in the provinces of Namibe and Huíla, marble, granite, and quartz reserves abound. Marble is especially consumed in the local market, while black granite is on demand and exported to United States and Japanese markets.…

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As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.

Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.

The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.

Currently, Africa’s power is …

Nigeria to export gas through Equatorial Guinea.

The Nigerian Minister also praised Equatorial Guinea, saying that the Western African country has a massive record of world-class gas processing and liquefaction infrastructure already in Punta Europa and allocating investment funds for development.

Minister Obiang Lima said that Equatorial Guinea was in line to be an essential player in the African energy market.

“New, fast, and competitive sources will be a major determinant of success,” he said. “This strategic collaboration breaks down geographical boundaries and allows gas delivery from Nigeria to Equatorial Guinea’s Punta Europa facilities, extending their life and providing access to the regional and global energy markets.”

Through the agreement, the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners will put into monetary use gas that would have otherwise been stranded offshore due to the absence of infrastructure.…

Dr. Ngozi Okonjo-Iweala

The confirmation of Dr. Ngozi Okonjo Iweala as the World Trade Organization’s new head is a positive development. Having previously been blocked by the Trump administration, it is a welcome relief that it has finally come to fruition. 

There are questions as to the reasons behind her blockade in the first place. Could it be her nation of origin? Perhaps a discomfort about bringing governance of the world’s largest trade organization to Africa? Or possibly the fact that she is a woman? Perchance some are not ready for female leadership. Judging from how long the US presidency has been a boys-only club, it begs to reason that this might be a plausible reason. 

Regardless of the reasoning, Dr. Ngozi Okonjo Iweala’s history precedes her. She is no stranger to breaking barriers, having been appointed as the first female finance minister under two different sitting presidents in Nigeria. She has also

Nigeria’s Ngozi Okonjo-Iweala was on Monday, February 15 confirmed as the World Trade Organization (WTO) director-general.

Her appointment came after the last remaining rival candidate, South Korean trade minister Yoo Myung-hee, withdrew from the race, allowing her to become the first woman and the first African to lead the global trade body.

She will take up her post on March 1, initially for a term that runs until August 2025.

The Geneva-based body has been without a permanent director-general since Roberto Azevêdo stepped down a year earlier than planned in August.

However, as she takes over, much is expected from her.

Trade spats

Despite WTO being established in 1995 with the aim of promoting open trade for the benefit of all, the organization has struggled to prevent trade spats among member states, most notably the United States and China.

The organization negotiates and administers rules for international trade and tries …

Nigeria’s IROKO Partners Limited media company is working on plans to list on the London Stock Exchange (LSE) Alternative Investment Market.

Reports indicate that the Initial Public Offering (IPO) could be effected in the next 12 months. The company had earlier on announced plans to go public either on the London Stock Exchange or a local bourse on the continent but sought an international presence as this may enable further growth of the industry and the company itself. 

About Nigeria’s IROKO Partners

The company was founded in 2011 by Jason Njoku and Bastian Gotter and boasts the largest online catalog of Nollywood film content globally.

The media company, according to reports, will raise between $20 million and $30 million, valuing the company at $80 million to $100 million

While making the announcement in October 2019, the company’s CEO Mr Njoku, however, did not reveal the exact time …

Tata International Africa’s Ghana operation has won a prestigious award.

The company was awarded John Deere Africa’s 2020 Dealer of the Year Award for the category of dealers outside the SADC region.

Jaco Beyers, Managing Director, John Deere Africa Middle East (AME) said that Tata Ghana winning the prestigious award did not come as a surprise following the commitment the Tata team had demonstrated towards the John Deere brand.

“The John Deere Dealer of the Year Award is presented to a dealer that performs over and above in various aspects of the business including delivering value to our customers. With the commitment the Tata team has demonstrated towards the John Deere brand and our customers, it does not come as a surprise that it has won the 2020 award,” says Jaco Beyers, Managing Director, John Deere Africa Middle East (AME).

Beyers noted that other key criteria for the award …

Ghana has revised its Covid-19 protocols for air travellers.

The revision of the protocols, which will affect travellers arriving in Ghana follows the upsurge in the number of Covid-19 cases.

According to the new measures that have been contained in the new amendments to Ghana’s air travel guidelines, Ghanaian residents who depart Ghana and return within a week will not be required to present a COVID-19 test result from the country of departure.

The measures that have already been effected by the Kotoka International Airport will see travellers undergo mandatory COVID-19 testing upon arrival in Ghana at a cost of $50.

Speaking during a live press conference in Accra on Tuesday, February 9, the Minister-designate for Information, Mr Kojo Oppong-Nkrumah noted that Ghanaian passengers who fail to comply with the guidelines would have their passports seized and the passenger handed over to the state security agencies to undergo a 14 …

Access Bank Ghana has been ranked as the best company in customer service across all industries in Ghana for the year 2020.

In the research, the Ghana Customer Service Index (GCSI) report shows that the bank had a score of 89.15%.

Over the past three years, Access Bank has been recording a consistent improvement, giving credence to its stated commitment to give customers an experience beyond banking.

The bank in the 2019 report ranked number one in the banking industry, beating other top-tier banks.

In the research conducted in 2020, data was collected from over 3,000 responds in the country’s capital, Accra and two other regions, Kumasi and Takoradi.

The data focused on key metrics such as trust, look and feel, competence, professionalism, ease of doing business, processes and procedures, and customer-focused innovations.

The rest are Engagement with Customers, Complaints and Feedback, and Coronavirus Preparedness.

According to the Institute of …